Buy @ CMP: Rs 1,596
Target: Rs 1,700
Stop loss: Rs 1,540
The stock has resumed its uptrend after breaking out of a bullish flag pattern on higher volumes. Further, it has closed beyond the upper end of the Bollinger bands, confirming the bullishness. Technical indicator RSI is also confirming that the stock it trading in a bullish territory.
Buy @CMP: Rs 945
Target: Rs 1,000
Stop loss: Rs 910
The stock has resumed its uptrend after breaking out of a falling wedge pattern on healthy volumes. Further, it is trading above all its key short-term moving averages (i.e. 20-DMA and 50-DMA), confirming the bullishness. The positive directional indicator (DI) has crossed over its negative counterpart on the weekly chart, suggesting higher levels.
(Aditya Agarwala is Senior Technical Analyst at YES Securities)